The price of vanilla is projected to rise globally, as

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Cyclones and late flowering of trees could lead to higher vanilla prices as production in Madagascar, the world’s largest producer of this spice, falls by more than 30% compared to 2021, according to the main association of vanilla exporters. on the island, according to Bloomberg.

Meteo Madagascar predicts that tropical storm Dumako will bring heavy torrential rains and strong winds, especially in the northeastern region of the island where one-fifth of vanilla crops are located. The warning comes just weeks after Madagascar was devastated by Cyclone Batsirai and Hurricane Ana, which killed at least 150 people.

These extreme weather events will cut off foreign exchange earnings from major agricultural activity and halt export growth, which began in 2021. Madagascar is the world’s largest supplier of vanilla, which is used to flavor ice cream and ice cream. pastry.

“If we add to this the fact that late flowering has already reduced production by up to 30% in 2022, we should expect a more drastic decrease, according to Georges Geeraerts, president of the association of vanilla exporters in Madagascar. Such a situation will certainly have an impact on prices “, Geeraerts also transmitted, in a telephone statement, without submitting, however, any estimate.

For now, the minimum selling price set by the government is $ 250 per kilogram.

If Cyclone Batsirai hit the southeastern part of the country, responsible for 10% of production, Hurricane Dumako will hit an area famous for both the high quality of vanilla and the fact that it is the largest supplier of vanilla in Madagascar. .